BY Fredrick Nwabufo
The federal government will soon begin the trial of those who misappropriated the revenues of Nigerian National Petroleum Corporation (NNPC) in the past administrations, President Muhammadu Buhari has said.
Speaking at a meeting with President Xi Jinping of China on Sunday on the sidelines of the 70th General Assembly of the United Nations, Buhari said a “necessary first step” had already been taken with the appointment of a new management for the corporation and the ongoing reorganisation.
Over the years, several billions of dollars have been reportedly diverted from the coffers of the corporation which manages Nigeria’s hydrocarbon resources.
In 2013, Sanusi Lamido Sanusi, then governor of the Central Bank of Nigeria (CBN), alleged that $20 billion could not be accounted for between 2012 and 2013.
He also alleged that kerosene subsidies were illegally deducted by the corporation even when the same body had been recording zero subsidy for the product since 2007.
Although Buhari did not name the suspects that will go on trial, various media reports listed a former minister, some top NNPC executives as well as many private sector chiefs who allegedly colluded to loot the corporation through dubious contracts and agreements skewed against the interest of the government.
Femi Adesina, the presidential spokesman, said in a statement issued on Sunday that Buhari thanked the Chinese leader for his country’s help in curbing crude oil theft from Nigeria, applauding China’s interception of shiploads of stolen crude oil.
“We know your stand on corruption, and we are grateful. Your continued cooperation in curbing oil theft from Nigeria will be appreciated,” Buhari told the Chinese leader.
He also assured President Xi Jinping that under its new leadership, the Nigerian military had been re-trained and re-equipped, and was now making steady gains against Boko Haram.
China promised to increase its investment in Nigeria, Adesina said, quoting Jinping as telling Buhari that his country was already involved in diverse areas such as railway, airports, agriculture and the Mambilla Hydro-power project.
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